Reported 5 months ago
Siemens AG is likely to transfer its 17.1% stake in Siemens Energy to the group's pension fund to prevent dilution of the company's shares through a placement, according to the group's finance chief. This move indicates Siemens' plan for the stake valued at 3.36 billion euros, following Siemens Energy's spinoff in 2020. The CFO stated that transferring the stake to the pension fund would incur lower transaction costs compared to a placement on the capital market. Additionally, Siemens AG will consider external offers for the stake, but given Siemens Energy's importance to Europe's energy transition, any sale to an outside investor will be carefully evaluated.
Source: YAHOO